Reservoir Media (NASDAQ:RSVR) Trading Up 0.1% - Should You Buy?

Key Points

• Reservoir Media shares were essentially flat on Thursday, rising 0.1% to $10.19 after trading as high as $10.25. Volume was well below normal, with about 13,512 shares changing hands versus an average of 55,884.
• Recent earnings came in ahead of expectations, with the company reporting $0.07 EPS versus the $0.05 consensus and revenue of $47.5 million versus $44.45 million estimated. Analysts currently expect Reservoir Media to earn $0.13 per share for the full year.
• Sentiment remains cautious but stable, as Weiss Ratings nudged the stock from “hold (c)” to “hold (c+)” and MarketBeat shows an overall average rating of “Hold.” Institutional ownership stands at 44.38% of shares outstanding.

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report)'s share price was up 0.1% on Thursday . The stock traded as high as $10.25 and last traded at $10.19. Approximately 13,512 shares traded hands during trading, a decline of 76% from the average daily volume of 55,884 shares. The stock had previously closed at $10.18.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Reservoir Media from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Reservoir Media presently has an average rating of "Hold".

Reservoir Media Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.20. The stock has a fifty day simple moving average of $10.18 and a 200-day simple moving average of $9.13. The company has a market capitalization of $670.60 million, a P/E ratio of 84.92 and a beta of 0.74.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Reservoir Media had a net margin of 4.73% and a return on equity of 2.22%. The business had revenue of $47.50 million for the quarter, compared to analyst estimates of $44.45 million. Equities analysts forecast that Reservoir Media, Inc. will post 0.13 EPS for the current year.

Institutional Trading of Reservoir Media

Several hedge funds have recently modified their holdings of RSVR. BNP Paribas Financial Markets raised its stake in shares of Reservoir Media by 101.1% in the second quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company's stock valued at $54,000 after acquiring an additional 3,521 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Reservoir Media by 373.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company's stock worth $58,000 after acquiring an additional 5,918 shares during the last quarter. Invesco Ltd. increased its holdings in Reservoir Media by 22.1% during the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company's stock valued at $102,000 after purchasing an additional 2,433 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Reservoir Media by 48.3% during the 4th quarter. Wells Fargo & Company MN now owns 22,780 shares of the company's stock valued at $172,000 after purchasing an additional 7,421 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in Reservoir Media by 19.6% in the 3rd quarter. Gabelli Funds LLC now owns 27,500 shares of the company's stock valued at $224,000 after purchasing an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 44.38% of the company's stock.

About Reservoir Media

Reservoir Media Inc is a global independent music rights management company that acquires, administers and monetizes music publishing and master recording assets. Its business model centers on building a diverse portfolio of copyrights and recordings across genres, then generating revenue through licensing, royalty collection and direct-to-fan initiatives. Reservoir’s catalog includes works by established and emerging songwriters and artists, spanning pop, rock, country, R&B and other contemporary styles.

The company operates two primary segments: music publishing and recorded music.

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